Seed and Angel Financing in Tech Companies: ENET Meeting, April 4, 2017

TONIGHT, on Tuesday, April 4, 2017 at 630pm, the Boston Entrepreneurs’ Network (ENET), will hold a meeting with speakers on this subject, at the group’s Waltham location:  Constant Contact, 1601 Trapelo Rd., 3rd Floor, Great Room, Waltham, Massachusetts (Exit 28, I-95/Route 128)

Discover how Angel and Seed investors approach the problem of making a good investment. Go behind the scenes of the decision making to discover the process our panelist-investors use to choose and to invest in emerging and seed stage companies.  Whether you are planning to launch a company or you are planning the next level, a Seed or Angel investor could be the funding source you are looking for. Maybe you’re not even sure what angel investment is? This panel will focus on the nature of angel and seed investments in New England technology based companies, and on how to obtain that initial angel or seed-stage investment in your company.

The speakers will be investors in early stage life science companies and tech companies.

The panelists will also offer candid views and discussion on how to prepare a company for raising angel capital or seed stage investment, the raise itself, and how to work with angel groups or seed investors after getting the investment.

Here are a few very common questions:

  • What are the best ways to find an angel whose investment interests align with my objectives?
  • How do Angels pick investments? What criteria is most important to them?
  • How do Angels decide how to value my company and how much to invest?
  • I’m getting ready to raise seed investment for my company. What should I know on behind the scenes when angel and seed investors contemplate whether or not to fund my venture?
  • How do I create an investor-friendly financial model for my business?

As with every ENET meeting you will also get the chance to network with the panelists and other meeting attendees, both before the start of the meeting and afterwards. There will also be a pre-meeting dinner for additional networking.

Agenda:
630-730 PM Registration & networking
730-740 PM ENET Chairman’s announcements
740-755 PM E Minute – Up to 3 Startup companies’ presentations
755-845 PM – 3 or 4 expert speakers on the night’s topic
845-900 PM – Audience / Speakers Q & A
900-930 PM – Final networking including meeting speakers

Speakers

Vivek SoniVivek Soni – Managing Director

As Managing Director, Vivek oversees the operation of TiE Angels’ activities and partnerships. He has extensive experience as a senior corporate executive, technologist, entrepreneur, board member, start-up mentor, advisor, and investor. Vivek is Managing Partner at Boston Cleantech which advises Cleantech companies. Vivek is a board member of A.T.E. Group companies. He was a Venture Advisor to London-based Nomura’s expansion-stage, cleantech venture capital fund. Vivek served as President, Corporate Technology Strategy, and Services at the Aditya Birla Group in India. He has held technology roles at Polaroid Corporation and Shell USA. Vivek has a Ph.D. in Polymer Science from the University of Massachusetts, Amherst and his B.Tech. from the Indian Institute of Technology, New Delhi. He is an active Charter Member and past Board Member of TiE-Boston.

Jerrold ShapiroJerrold M. Shapiro, Ph.D. Bioengineering, President, Floelle, Inc.

Jerrold M. Shapiro Is a leader, fast-track developer and inventor of new medical devices. Shapiro works with gynecologists, nurse practitioners, physical therapists, other healthcare providers and their patients since 2002 in the treatment of female urinary stress and mixed incontinence made me keenly aware of the way urinary incontinence reduces the quality of patients’ lives.  Despite the high efficacy of the pelvic floor exercise device we rented to them, patients with mild dementia could not remember the protocol, those with MS and paraplegia could not contract their pelvic floor muscles (PFM) and younger women busy with work and family responsibilities did not have the time to exercise.  In April 2010 Cheri Grantham and Shapiro began developing a medical device which did not require exercise or the cooperation of the patient.  Shapiro brings to this task over forty-seven years of medical device experience, both in academia, private industry and consulting.  Shapiro has the leadership and technical skills, industry contacts and FDA experience to take this device all the way into the market so that it can greatly improve the quality of life of not just incontinent women, but of their caregivers and families, as well as saving third party payers such as Medicare a significant sum now paid to institutionalize some of these patients due to their incontinence, as well as funds paid for surgery and absorbent products.

Shapiro held several key positions including, Research Scientist, US Army Signal Corp Laboratory; U.S. Army Commendation Award,  Assoc. Professor, Boston University School of Medicine & College of Engineering. He was the Cofounder, Department of Biomedical Engineering, Boston University College of Engineering. He is currently the Mentor, MIT Portugal, Program Committee, Worcester Polytechnic Institute Venture Forum, Member, MassMEDIC,  Co-Chair, Life Sciences Special Interest Group, TechSandbox

He has graduate degrees in Electrical Engineering and PhD in Bioengineering and an alumnus of Polytechnic Institute of Brooklyn, Purdue University, West Lafayette, IN and University of Michigan, Ann Arbor, MI

Moderator

Brigid Oliveri Siegel, Partner,  Ward Howell International, Inc., http://www.ward-howell.com

Brigid Siegel is a partner and management consultant at Ward Howell, Inc. where she conducts retained executive searches. In this capacity, she focuses on finding and developing leaders as well as building effective managing teams which will guarantee success in any technology, life sciences or biotech field.

Brigid began her career in the high technology industry over 30 years ago and in executive search, 20 years ago. She was a principal at Brigid Siegel Associates, a partner at  Polachi, a Managing Director with The Onstott Group, a Senior Partner at Heidrick & Struggles and a Vice President with Fenwick Partners. Throughout her retained executive search career Brigid has successfully completed numerous senior executive search assignments for clients ranging from emerging growth companies to multi-billion dollar corporations.

Brigid studied at Polytechnic Institute of Brooklyn and holds a Bachelor of Science Degree in Electrical Engineering from Lowell Technological Institute. Her executive search industry expertise has been cited in the Boston Business Journal, the New York Post, as well as Hunt Scanlon’s Executive Recruiting Industry Newswire. She was also a member of the Executive Board of the WPI (Worcester Polytechnic Institute) Venture Forum for seven years and is currently a Boston ENET Vice Chairperson and an Executive Board member.

For more information or to register for the April 4 ENET meeting in Waltham, go to LINK:  http://boston-enet.org/event-2314315 or www.boston-enet.org


Tweet This Event

If you use Twitter and would like to tweet this event, here are my 6 tweets and re-tweets that you are welcome to re-tweet or use for your own tweets about this event –

.@BostonENET 4/4 Seed/Angel Financing In Tech Companies 6:30 pm: http://boston-enet.org/event-2314315 ?… #BosENET, #PitchENET #founders #angelinvestors

Join @BostonENET 4/4: Seed and Angel Financing in Tech Companies!6:30p RSVP http://boston-enet.org/event-2314315?utm_source=TwitterEmail&utm_campaign=040417 … #BosENET #PitchENET #startups #founders

Boston Entrepreneurs’ Network – Next: Seed and Angel Financing in Tech Companies @BostonENET 4/4 http://boston-enet.org/event-2314315?utm_source=TwitterMMALM&utm_campaign=040417 … #BosENET #PitchENET

Boston ENETeMinute Pitch and Constant Contact  

Vivek Soni @TiEAngelsBoston Jerrold Shapiro‏ @FEMMEDICAL  on #seed #angelinvesting #tech #startups @BostonENET 4/4 http://boston-enet.org/event-2314315?utm_source=TwitterMMALM&utm_campaign=040417

Vivek Soni @TiEAngelsBoston Jerrold Shapiro @FEMMEDICAL Brigid Siegel   #angelinvesting #startups @BostonENET 4/4 http://boston-enet.org/event-2314315?utm_source=TwitterMMALM&utm_campaign=040417

Vivek Soni @TiEAngelsBoston Jerry Shapiro @FEMMEDICAL   #angelinvesting #startups @BostonENET @ConstantContact 4/4 http://boston-enet.org/event-2314315?utm_source=TwitterMMALM&utm_campaign=040417


Hopefully, this meeting on seed and angel financing will be helpful to entrepreneurs in small and early stage companies I represent.  Hope to see you at Constant Contact 630pm TONIGHT!

For additional ENET information on Seed & Angel Funding for Startups…

I helped the moderator with this meeting.   I also organized and moderated another ENET panel on Seed and Angel Financing (for Startup companies) that was held in Waltham October 2, 2012.

If you would like more information on that October 2012 Seed and Angel Finance panel, I moderated go to  http://boston-enet.org/event-545603    At that link you can view slides from all three of our angel and seed investor speakers that included James Geshwiler, Managing Director of Common Angels.

The slides of our October 2012 panel tell how investors approach the problem of making a good investment?  The slides also go behind the scenes of the decision making to discover the process our three panelist-investors use to choose and to invest in emerging and seed stage companies.

Hopefully, these presentations on Seed and Angel Financing will be helpful to entrepreneurs in small and early stage companies I represent.

My Continuing role as ENET Chairman and frequent speaker & moderator…

I remain active in ENET, a Waltham and Cambridge based non-profit group, affiliated with IEEE, that aids tech and life science founders, entrepreneurs, small and early stage companies, and people who invest or work in those companies.  www.boston-enet.org

A member of the ENET Board since 2002, I have served as Chairman of this non-profit group since 2009.  In May 2015, I was elected to my fourth 2-year term as ENET Chair.  During the period of my leadership, ENET’s annual program has grown from 10 meetings per year to 19 for 2015-16 year just completed:  10 meetings in Waltham, and 9 in Kendall Square Cambridge, plus our annual cruise of Boston Harbor to end the program year.  Each meeting has three or more speakers on a subject of interest to entrepreneurs and company founders, in life science, tech and other areas of New England’s innovation economy.  Each meeting also has ample networking time before and after the presentations to allow entrepreneurs to meet each other and later meet with the speakers

Rob Adelson receives IEEE awardOn January 30, 2016, at a ceremony at the national meeting of IEEE-USA in Las Vegas, NV, the President of that organization Peter Eckstein (pictured below) presented me with the IEEE-USA professional achievement award for “extreme dedication and contributions to the IEEE entrepreneurial community”.  For more information on that award, see LINK:  http://www.boston-enet.org/IEEE-USA-Professional-Achievement-Award

Boston sunsetThis past summer, on July 14, 2016, I arranged, as cruise director, the final event of the 2015-16 ENET program year, our annual Sunset Networking Cruise of Boston Harbor.  In this cruise, that we called the EntrepreneurSHIP 2016, ENET was joined by our partners MDG – Medical Development Group, WIE – IEEE Women in Engineering, The EntreTech Forum, and the Massachusetts Bio Pharma Networking Group (MABPNG).  This was the 14th annual cruise I’ve arranged for ENET, and it drew our largest attendance yet, 219, on a lovely July night – great sunset over the outer Harbor Islands.  The cruise sold out the day before we set off from Rowes Wharf.

Besides my work as ENET Chair, and annual cruise director, I have organized and moderated two of ENET’s meetings of the current 2016-2017 program year and five (5) meetings in the 2015-16 program year, just completed.

Earlier this year, on January 17, 2017, I was meeting organizer and moderator for ENET’s first meeting at new Cambridge location at Pivotal Labs just outside Kendall Square.  We had 100 in attendance for our presentation on Compensation and Equity for Early Stage Leadership Teams”.

It’s been said that 70% of the investment decision of an early-stage company is the team.  That’s so because so often everything goes wrong and only great teams can respond to competitors, markets, funding environments, staff departures, PR disasters and the like.

Yet, how do your build that early stage leadership team to attract investment if you don’t have the cash to pay competitive salaries and benefits?  That’s was the conundrum of our ENET presentation on January 17th.  Our 3 speakers discussed use of startup equity as a key weapon of choice to recruit needed talent to build you’re A-team.   We discussed allocation of equity and vesting in both tech and medical device companies with an all-star panel. Unfortunately, we do not have slides from this presentation but videos were taken of each speaker that we hope to post soon at the ENET website.

Our speakers that night (pictured below) were –

Andy Palmer et al

  • Katie Rae, Managing Director @ Project 11, a pre-seed venture fund investing in tech-driven startups. Katie is Co-Founder, Chairman @ Startup Institute, teaching people how to join great startups and be effective on day 1, and Chairman of Techstars Boston.
  • Nancy Briefs, Entrepreneur in Residence @ M2D2 UMASS Lowell and Angel Investor with MA2.  For 5 years and into 2016, Nancy was CEO @ InfoBionic. Her career includes 30 years as an Entrepreneur, CEO, Angel Investor, Independent BOD Member and Business Advisor.

There were no speaker slides from my January 17, 2017 panel.  However, there is video for each of the speakers from this event.  You can view the videos at LINK:  http://www.boston-enet.org/event-2314292

Several months earlier, on September 6, 2016, I was meeting organizer and moderator for the kick-off meeting to ENET’s 26th year. For that meeting in Waltham, our subject was What builds the most value in a tech or medtech startup Company?  It was a great evening for ENET where our founders of startup companies heard first about defining the value proposition of your company’s product or service.

  • Do you fix a problem that has real and measurable consequences to inaction?
  • Is this problem a top priority to your target customer?
  • Is the market significant?
  • Is the market underserved?

Then, our audience heard about key means of building value in your company after that value proposition is established to attract angel investment in tech and life science companies.  Then, finally about building value for an exit / liquidity event.

Piret et al

Our speakers on September 6, 2016 (pictured above), were

  • Marguerite A. Piret, President & CEO, Newbury Piret & Company, Inc., http://www.newburypiret.com/ a Boston M&A firm, with Marguerite twice nominated for “Woman Deal Maker of the Year” for her work building value in companies to successful exits,
  • Jordan Leef, Healthcare VC and Director, The BioBreak Organization http://www.biobreak.org/ a life sciences investor and director of an organization that brings together executives across med tech and life science fields, and
  • Walter M. (Jerry) Bird, President, MassVentures, http://www.mass-ventures.com/ the President of one of the most successful VC/angel firms that invests exclusively in Massachusetts startup compani.

For links to the meeting write up I prepared and the speaker slides from that meeting, LINK: http://www.boston-enet.org/event-2289358

Additionally, in prior years, I’ve moderated and/or spoken at a number of ENET panel presentations, including presentations on the following subjects:

  • “Building and Using Board of Directors and Boards of Advisors”, April 2015 (moderator),
  • “Founder Agreements and Stock Vesting – Building a Team, Protecting yourself, Managing expectations ”. February 2015 (moderator & speaker)
  • “Entrepreneur Success Stories ” , September 2014 (moderator),
  • “Raising Money from CrowdFunding , May 2014 (moderator),
  • “Ready, Set, Launch. Knowing when you’re ready & How to start a company” , September 2013 (moderator),
  • Bootstrapping 101: Alternative Ways to fund a Startup without an Angel or VC, November 2012 (moderator)
  • Seed and Angel Financing , October 2012 (moderator),
  • Getting Stuff for Free, April 2012 (moderator),
  • Transforming Your Idea into a Successful Company, September  2011 (speaker and moderator),
  • Get Going! Launching a Successful Business, September 2010 (moderator),
  • Licensing Technology,  February 2010 (moderator),
  • How to Select and Retain Management for your Startup Company, February 8, 2008 (speaker and moderator)
  • Getting Initial Money to go from Nothing to Something, October 2007 (speaker and moderator)
  • Strategic Alliances and Partnerships: to build, finance, and develop early stage companies, November  2006 (speaker and moderator)
  • Building Boards of Advisors and Boards of Directors, March 2006 (moderator)
  • Protecting Your Intellectual Property, January 2006 (speaker)
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